Power Minerals finds more rare earth riches 240m down at Morro do Ferro

• Power Minerals hits 2m at 6.88% TREO from 240m downhole at Morro do Ferro in Brazil
• Results extend known mineralisation at depth, identifying two separate high-grade zones
• Drilling continues as Power works towards a maiden mineral resource estimate

Special Report: Power Minerals has added another chapter to its high-grade rare earth story in Brazil, with fresh drilling results revealing mineralisation grading up to 6.88% total rare earth oxides (TREO) at 240m downhole at its Morro do Ferro project.

The latest assays from diamond drillhole MFSR-054 have identified a second high-grade zone at depth, extending the company’s understanding of mineralisation beneath the project’s initial drilling Base Section.

Power Minerals (ASX:PNN) reported a 2m interval grading 6.88% TREO and 1.07% magnet rare earth oxides (MREO) from 240m, sitting within a broader 19.8m zone at 1.38% TREO from 222.2m.

The results also confirm rare earth mineralisation extending continuously downhole from surface to 190m, with the deeper mineralised interval providing another target for investigation.

Power CEO Alistair Stephens said the results added important information to the company’s understanding of Morro do Ferro.

“Importantly, this result adds to our understanding of mineralisation deeper to the northeast and provides further data for the upcoming maiden Mineral Resource estimate,” he said.

“This deeper mineralisation may be a potential feeder zone which warrants more focussed drilling at depth.”

Two high-grade zones emerge at depth

The final batch of assays completes the analysis of MFSR-054, which reached a total downhole depth of 253.55m.

Alongside the latest deep intercept, the hole returned several significant intersections, including:

• 88m at 6.33% TREO and 1.19% MREO from surface, including 50m at 9% TREO and 1.56% MREO;
• 93m at 1.06% TREO and 0.23% MREO from 88m;
• 9m at 2.78% TREO and 0.72% MREO from 181m, including 2m at 7.85% TREO from 184m; and
• 19.8m at 1.38% TREO and 0.23% MREO from 222.2m, including the latest 2m at 6.88% TREO from 240m.

The deeper results have highlighted two distinct high-grade zones, which preliminary geological assessments suggest could be associated with conduits carrying rare earth-bearing fluids through an interpreted hydrothermal system.

While further geological work is needed to determine their extent and relationship, the findings raise the possibility that rare earth mineralisation extends beyond the shallower zones that have dominated previous drilling.

MFSR-054 was also drilled towards the northeast, unlike most of Power’s other holes, providing further information to help determine the orientation and geometry of the mineralised system.

The company has completed two additional drillholes testing the area above the newly identified deep zones, with results pending.

A growing rare earth story

The latest discovery follows a succession of high-grade results at Morro do Ferro, which have continued to build Power’s understanding of the Brazilian project.

The company recently reported its highest-grade individual sample to date from drillhole MFSR-057, returning 1.2m at 40.5% TREO and 7.73% MREO from 42m downhole.

That standout sample formed part of a much broader 111m intersection grading 8.25% TREO from surface, including 51m at 15.42% TREO from 24m.

Earlier in October, drillhole MFSR-056 returned 119m at 4.94% TREO from surface, including 10m at 12.31% TREO, providing further evidence of mineralisation beyond the initial Base Section.

The significance of the latest deep results comes against the backdrop of Power’s maiden Exploration Target, announced in September.

That target outlined a conceptual 9.2-10.7Mt grading 7.8-9.2% TREO and 1.3-1.6% MREO, providing a framework for the continuing resource-definition campaign.

Importantly, the latest deep assays from MFSR-054 were not included in the September exploration target model.

The exploration target remains conceptual, with insufficient exploration completed to establish a mineral resource. Further drilling and assessment will determine whether the new results can contribute to a maiden JORC estimate.

Beyond drilling, Power is also progressing metallurgical and mineralogical studies at Morro do Ferro.

A program announced in September involved more than 100kg of drill samples selected for analysis, with testwork aimed at understanding the project’s rare earth minerals and assessing potential processing pathways.

The studies are investigating opportunities to produce concentrates enriched in the higher-value magnet rare earths, although recoveries and processing performance remain subject to testing.

What’s next?

Drilling remains ongoing at Morro do Ferro, with several outstanding assays expected to provide further information about the scale and continuity of mineralisation.

Power has also commenced a passive seismic survey to help investigate subsurface structures, with further drilling along strike planned following geological, mineralogical and geophysical analysis.

The company continues to advance its metallurgical studies alongside work towards a maiden resource estimate.

“Our focus is on establishing the scale and continuity of this mineralisation while advancing metallurgical testwork to assess recovery of the higher-value magnet rare earths,” Stephens said.

“With drilling continuing and further assays pending, we look forward to reporting the next results.”

This article was developed in collaboration with Power Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Power Minerals finds more rare earth riches 240m down at Morro do Ferro appeared first on Stockhead.